QMOM vs. MTUL
QMOM (Alpha Architect U.S. Quantitative Momentum ETF) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both Momentum funds. QMOM is actively managed, while MTUL is passively managed. Over the past 5 years, QMOM returned 10.30%/yr vs 21.53%/yr for MTUL. Their correlation of 0.82 suggests significant overlap in exposure. QMOM charges 0.28%/yr vs 0.95%/yr for MTUL.
Performance
QMOM vs. MTUL - Performance Comparison
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Returns By Period
In the year-to-date period, QMOM achieves a 20.72% return, which is significantly lower than MTUL's 72.94% return.
QMOM
- 1D
- 1.73%
- 1M
- -1.23%
- YTD
- 20.72%
- 6M
- 18.00%
- 1Y
- 25.16%
- 3Y*
- 21.88%
- 5Y*
- 10.30%
- 10Y*
- 13.91%
MTUL
- 1D
- 4.03%
- 1M
- 13.20%
- YTD
- 72.94%
- 6M
- 64.43%
- 1Y
- 90.13%
- 3Y*
- 61.94%
- 5Y*
- 21.53%
- 10Y*
- —
QMOM vs. MTUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QMOM Alpha Architect U.S. Quantitative Momentum ETF | 20.72% | 2.36% | 30.43% | 9.50% | -6.99% | -18.76% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 72.94% | 27.42% | 58.70% | 10.66% | -37.97% | 8.34% |
Correlation
The correlation between QMOM and MTUL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.82 |
The correlation between QMOM and MTUL has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
QMOM vs. MTUL — Risk / Return Rank
QMOM
MTUL
QMOM vs. MTUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QMOM | MTUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.33 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 3.80 | -1.80 |
| Martin ratioReturn relative to average drawdown | 6.97 | 14.88 | -7.91 |
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Drawdowns
QMOM vs. MTUL - Drawdown Comparison
The maximum QMOM drawdown since its inception was -39.13%, smaller than the maximum MTUL drawdown of -56.83%. Use the drawdown chart below to compare losses from any high point for QMOM and MTUL.
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Drawdown Indicators
| QMOM | MTUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.13% | -56.83% | +17.70% |
Max Drawdown (1Y)Largest decline over 1 year | -12.65% | -23.86% | +11.21% |
Max Drawdown (3Y)Largest decline over 3 years | -26.46% | -39.15% | +12.69% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -56.83% | +30.01% |
Max Drawdown (10Y)Largest decline over 10 years | -39.13% | — | — |
Current DrawdownCurrent decline from peak | -3.51% | -3.12% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -12.88% | -22.45% | +9.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 6.08% | -2.46% |
Volatility
QMOM vs. MTUL - Volatility Comparison
The current volatility for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) is 9.28%, while ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a volatility of 19.45%. This indicates that QMOM experiences smaller price fluctuations and is considered to be less risky than MTUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMOM | MTUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 19.45% | -10.17% |
Volatility (6M)Calculated over the trailing 6-month period | 21.15% | 40.40% | -19.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.75% | 47.43% | -22.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.44% | 43.52% | -19.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.62% | 44.11% | -17.49% |
QMOM vs. MTUL - Expense Ratio Comparison
QMOM has a 0.28% expense ratio, which is lower than MTUL's 0.95% expense ratio.
Dividends
QMOM vs. MTUL - Dividend Comparison
QMOM's dividend yield for the trailing twelve months is around 0.45%, while MTUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QMOM Alpha Architect U.S. Quantitative Momentum ETF | 0.45% | 0.54% | 1.40% | 0.87% | 1.59% | 0.12% | 0.08% | 0.01% | 0.05% | 0.13% | 0.34% |
Frequently Asked Questions
QMOM and MTUL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (19.45%) compared to QMOM (9.28%). In terms of maximum drawdown, QMOM dropped -39.13% vs MTUL's -56.83%.
On 5-year performance, MTUL leads with 21.53% vs 10.30% for QMOM. On fees, QMOM is cheaper at 0.28% per year. On volatility, QMOM has been the lower-risk option at 9.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MTUL has performed better with a 21.53% return vs 10.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QMOM is cheaper with a 0.28% expense ratio, compared with 0.95% for MTUL.
QMOM has the higher dividend yield at 0.45%, compared with 0.00% for MTUL.
They also come from different issuers: Alpha Architect and UBS. Their fees differ too: 0.28% for QMOM and 0.95% for MTUL.
MTUL currently has the higher Sharpe Ratio (1.91 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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